Last august, I was hunting a deal for an iphone 12 mini. Drove 2 hr and entered the store: paid $240 and waited to receive 2 Iphone 12 minis. At the same time, spanish speaking family entered the store - 2 adults and 4 kids. They came to buy a phone for the youngest kid. Kid was around 9-10 years old.The thing that bothers me a bit is that Apple did not take a hit along with almost every other stock on the markets.
They were buying it on a contract for full price. They bought either Iphone 12 or 13, can't remember, but it was expensive. Then I noticed these kids (7 year old(no phone), 11 year old, 12, 15 year old) all had latest iphones ranging from 11 to 13. The mother who were sponsoring the party didn't look to be a rich person - I would say that she works hard to earn the money. They talked about how small the monthly payments are and it is a good thing to buy kids a present. I would say that it was a family of 5-6 earning $2500-$3000 a month as a whole.
Conclusion: as long as we have people like this, Apple will continue to grow. And I have seen many like these.
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